To conduct and implement the risk-based audits in accordance with the following:
• International Standards on Auditing
• Professional Practice Standards of Institute of Internal Auditors
• Accepted Professional practice standards in Saudi Arabia1. Key Responsibility areas & activities:
Key Result Areas
Key Performance Indicators
Internal Audit Plan
· Assist the group audit manager in the development of the internal audit cycle and annual plans.
· Assist in the execution of the Internal Audit Risk Assessment exercise to identify audit priorities.
· Assist group audit manager with periodic reporting to the audit committee.
· Assist group audit manager with the departmental structure.
· Plans the individual assignments in terms of timing, resources and scope (i.e. execute the Annual Audit Plan).
Internal Audit Activities
· Determine areas of risk and appraises their significance in relation to operational factors of cost, schedule, and quality.
· Coordinate closely with Risk Management and other control-related activities.
· Generate or approve audit programs/RCM for individual assignments and identify the adequate audit techniques.
· Manage the audit team executing internal audit programs and tasks including but not limited to audits, reviews, follow up, special requests, ad-hoc assignments or any other related tasks as directed in particular complex or sensitive work areas effectively and efficiently.
· Ensure that audit work is performed efficiently and effectively by focusing on the risk area in accordance with approved risk analysis form (RCM).
· Review the executed tasks performed by audit teams to ensure completeness and accuracy of executed work required to fulfil the objectives, scope and audit programs of the performed assignments in accordance with the audit plan.
· Ensure that the exceptions identified by team are accurate, relevant and ensure the provision of sufficient and reliable evidence to support conclusions.
· To assist the group internal audit manager in providing advices on internal control, risk management, and relevant standards.
Report & Recommendations
· Review or draft the report for the purpose of discussion with the audit manager including:
§ Identification of findings and issues arising from the execution of the performed tasks.
§ Identifying the risks arising from the findings.
§ Design relevant and practical recommendations for each finding.
§ Draft concise and precise audit reports
· Analyse and conclude on effectiveness and efficiency of the control environment for the individual assignments.
· Ensure that the group audit manager is informed about important audit or accounting issues on a timely basis and issue the audit reports within 15 days after completion of the assignment.
· # No. of high risk areas identified per year.
· # of reporting and on time submission.
· % of error
Establishing relations with business units
· Maintain effective working relations with executive and operating management.
· Develop good communications with the business unit’s management.
· Follow-up receipt of Client management replies on audit report's findings been raised.
· Performs follow up on the action sheet as raised in the internal audit report and in line with the audit manual.
· Establish and monitors accomplishment of objectives intended to increase the audit department’s ability to serve the management, and to support the drive for functional excellence in the Head Office.
· Develop skills and knowledge of the people in own group and keep the Group's shared culture and values at all times.
· Continuous monitoring of team members’ progress and identifying the personal and group improvement opportunities (both professionally and personally)
· Formalize a transfer of knowledge plan and proactively transfer the knowledge to the Senior and Junior auditors.
· Develops KRAs and KPIs for subordinates and assists them in achieving targets.
· Organize the identification of training and development needs for subordinates to improve performance standards and develop to upcoming roles (vertical, horizontal, or diagonal).
· Organizes the appraisal of the staff to assess their effectiveness in meeting current and future needs and contribute to the succession planning to sustain the effectiveness of the team(s).
· Creates a coaching and mentoring environment and encourage teamwork between the staff to improve team performance and development.
· Revise current job descriptions for self and subordinates and contribute to writing new job description for new position under Audit and Risk Department.
· Identification of opportunities for continuous improvement of processes and practices taking into account ‘international best practice’, improvement of business processes, cost reduction and productivity improvement
· Identifying areas and opportunities of improvement.
CPA, CISA, International Standards Auditing, Audit Professionals, Financial Statement Auditing, Auditing Standards Command, Internal Audit